HomeMy WebLinkAboutResolution - 121053D - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 12_10_1953 �t
12-1053
i
i R E S 0 L U T I 0 N
WHEREAS, the Citizens National Bank of Lubbock, Texas,
depository for the City of Lubbock, desires to substitute securities and
to release-certain United States Treasury Notes pledged to secure funds
on deposit, THEREFORE,
BE IT RESOLVED BY THE CITY COMViISSION OF THE CITY OF LUBBOCK:
T HAT, the Citizens National Bank,of.Lubbock, Texas, BE, and it is
hereby authorized to replace Two Million and No/100 ($2, 000, 000.00) Dol-
lars two and seven-eights per cent (2-7/8%) U. S. Treasury Notes, Series
12-11-53 A-1957, held under Republic National Bank of Dallas Safekeeping Receipt
2 copies to No. 44656, and in lieu thereof to replace said securities with Six Hundred
Cits.Bank & Thousand and N01100 ($600, 000.00) Dollars two and one-half;per cent
one to Audit r. (2-1/2%) 19?Z-67 Treasury Bonds and One Million and N01100 ($1, 000,000.00A
Dollars two and one-fourth per=cent (2-1/4016): 1959-56 Treasury Bonds, and
further provided thatbonds and security of similar kind shall remain on
deposit at all times adequate to secure the City's balance with said depository.
It is further provided that the City of Lubbock shall be promptly advised of the
Safekeeping Receipt number under which said United States Treasury Bonds
are pledged.
'^ On motion of Commissioner Carpenter seconded by
Commissioner Dayls , this Resolution was passed
unanimously this the loth day of December , 1953, by the City
Commission.
AUR L 1yor�
AT T
La en ia Lowe, pity SFetary-Treasurer
SG:sv
11-30-53